Stern Lawsuit Filing

All boils down to this single paragraph . . . the rest of the complaint is puffery:

64. On or about, March 4, 2010, Richard Basch, Executive Vice President,
Legal and Administrative Affairs at Don Buchwald & Associates, Inc., wrote to Patrick
Donnelly, Sirius's General Counsel, asking for an explanation as to why the performance-based
compensation was not paid for either 2008 or 2009. Despite the parties' agreement and Sirius's
own public pronouncements regarding its subscriber levels, Donnelly claimed that Sirius
subscribers on the XM platform did not count towards the total number of Sirius subscribers.Basch pointed out that this position was contrary to the plain meaning of the Agreement and the
parties' intent, but Sirius steadfastly refused to pay the performance-based compensation due to
One Twelve and the corresponding amount due to Buchwald.

My take: As a matter of common sense, it stretches credulity to assert that "Sirius Satellite Radio" as a standalone company would have, in the event of a merger, agreed to compensate Stern for subscribers already independently acquired by "XM" as a standalone company . . . . or even those later added to the XM platform under the merged entity, acquired primarily through preexisting OEM agreements, except for those XM additions accruing as a result of "Best of" programming.

Sorry, this complaint doesn't pass the smell test.

And yes, the timing of this filing is dubious!

p.s. very nice to see Dr. Dave in the house this early a.m. . . . making rounds?

Howard on Howard

Howard Suing Sirius XM. 03/23/11. 6:20am

Howard took a call from a guy who asked about this lawsuit he has with Sirius XM. Howard said he is suing them. He said he has never gotten on the air and discussed his financial situation. That's just not something he does. He said this ties in with that so he won't say a lot about it. He said he's an honest guy and he's operating from an honest place. He said he knows one thing and he's honest and he believes that he's been dealt with unfairly. He said it's not comfortable to be doing this but that's what he thinks he has to do. He said he can't get into it much more than that. Howard said he isn't asking for anything that isn't his.

The caller said that it seems like Howard always lives up to his side of contracts and the companies are the ones who pull out. Howard said he's not going to get into it much more than that. He said it's very unfortunate. The caller asked how management is treating him now. Howard said he hasn't had any interaction with them since the lawsuit was filed.

The caller asked if he had checked out Bubba on RaidoIo.com. Howard said he hasn't but he's sure whatever Bubba is doing is good.

Robin said this whole thing is shocking. Howard said he couldn't handle this any other way. He said he feels like breaking up a dressing room but he won't be doing that.

Howard said he can't get into the details of the suit. He said he would like to but he's trying to use his head. He said he's ready to go home now. He said he'd like to talk about this because now he's distracted. He said this whole thing is not pleasant. He said he knows Robin wants to ask him stuff but he can't talk about it. He said that this is something that has happened to many people and he's just one in a long line. He said that he's going to continue his association with the company. This is just a business argument. He said he has to take a break to get his mind off of this. He said he's very distracted right now. Howard said he has to calm himself down after that. He said he feels like taking his shirt off right now. It's very weird.

"There Should only be 2 Law Schools"

SB Trivia

Yup, time again for some Sirius Buzz Trivia. Now you will really have to put your thinking caps on because this is NOT a multiple choice question. Here we go:

Who once said the following:

"The problem is there are too many friggin lawyers. There should only be two law schools, Harvard and Yale and if you can't get into either one then you don't go to law school. That would cut down on all these frivolous lawsuits!"